The ATO has finalised a number of its rulings (GST Ruling and several Income Tax Determinations) relating to the application of the tax laws for Bitcoin and similar crypto-currencies. The ATO says all these rulings have application to tax periods before their date of issue (i.e. 17 December 2014) as they discuss laws that were already operative. That is, they are retrospective in application. Some key points on the ATO's view on Bitcoin: Transa [...]
